Question - Jordan, Inc. owns Fey Corporation. For 2011, Jordan reports net income (without consideration of its investment in Fey) of $200,000 and the subsidiary reports $80,000. The parent had a bond payable outstanding on January 1, 2011, with a book value of $212,000. The subsidiary acquired the bond on that date for $199,000. During 2011, Jordan reported interest expense of $22,000 while Fey reported interest income of $21,000. What is the consolidated net income?
a) $266,000
b) $268,000
c) $292,000
d) $294,000